Target Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bearish stance on Target TGT.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with TGT, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 20 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 55%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $475,084, and 15 are calls, for a total amount of $924,832.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $135.0 and $160.0 for Target, spanning the last three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Target's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Target's significant trades, within a strike price range of $135.0 to $160.0, over the past month.

Target Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Target

Target serves as the nation's seventh-largest retailer, with its strategy predicated on delivering a gratifying in-store shopping experience and a wide product assortment of trendy apparel, home goods, and household essentials at competitive prices. Target's upscale and stylish image began to carry national merit in the 1990s—a decade in which the brand saw its top line grow threefold to almost $30 billion—and has since cemented itself as a leading US retailer.Today, Target operates over 1,950 stores in the United States, generates over $100 billion in sales, and fulfills over 2 billion customer orders annually. The firm's vast physical footprint is typically concentrated in urban and suburban markets as the firm seeks to attract a more affluent consumer base.

Having examined the options trading patterns of Target, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Target Standing Right Now?

• With a volume of 3,221,268, the price of TGT is up 1.56% at $151.32.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 43 days.

What The Experts Say On Target

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $187.5.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Telsey Advisory Group persists with their Outperform rating on Target, maintaining a target price of $195. * An analyst from Melius Research has revised its rating downward to Buy, adjusting the price target to $180.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Target with Benzinga Pro for real-time alerts.